Tax: a dirty word for Election 2022, page-11

You do realise that national debt is deflated during inflation right? Not the other way around.

Commonwealth of Australia was registered with the SEC under Rudd as a form of deposit guarantee scheme that would allow Australia to issue debt securities under US regs. This simply covers Australia's ADIs to protect Australian's deposits up to $250,000. It has nothing to do with Australian government debt obligations in the way you are describing.

Australia is at no risk of default on our debt agreements. End of story.